Issuer Valkyrie Funds launched a new exchange-traded fund (ETF) yesterday which holds public firms with bitcoin on the balance sheet.
The Valkyrie Balance Sheet Opportunities ETF aims to give investors exposure to bitcoin by holding firms that directly or indirectly invest in, transact in or hold bitcoin on their balance sheets. That includes firms like MicroStrategy, Block (formerly Square), Tesla, Coinbase and PayPal among others.
The fund plans to limit its exposure to mining companies in order to mitigate risk related to firms dealing directly in the bitcoin ecosystem Valkyrie Funds co-founder Steven McClurg told the TD Ameritrade Network.
At closing bell today, the fund held $635,549.12 under management. Shares were changing hands at $24.47 at close.
„Overall, we are pleased with how the reception VBB has received and are eager to help spread the gospel of why companies that allocate to Bitcoin tend to outperform their peers who don’t,” said Valkyrie Funds CEO Leah Wal
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